Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, has been included in FTSE Russell’s FTSE Global Equity Index Series which comprises of three indices – FTSE Emerging Index, FTSE Global Large Cap Index and FTSE All-World Index – as of 10th June, 2022.
FTSE Russell’s indices are used by investors globally to inform asset allocation decisions and support portfolio construction. Joining these key Indices marks a major recognition of Borouge and underlines the Company’s relevance to the global institutional investor base that participated in its recent initial public offering (IPO).
On June 3, the ADNOC and Borealis successfully completed the Borouge IPO of 10 percent of the Company’s total issued share capital on the Abu Dhabi Securities Exchange. The IPO raised gross proceeds of more than $2 billion making it Abu Dhabi’s largest-ever IPO and the Middle East’s largest-ever petrochemicals listing.
The listing also saw overwhelming demand from UAE Retail Investors and Qualified Institutional Investors, achieving the highest retail oversubscription levels of any UAE IPO in almost two decades.
Established in 1998, Borouge’s majority shareholders are ADNOC and Borealis.
Today, Borouge is one of the world’s leading providers of innovative and differentiated polyolefin solutions for the infrastructure, energy, agriculture, mobility, healthcare and advanced packaging industries. The Company employs over 3,100 people and serves customers in more than 50 countries across Asia, the Middle East and Africa.